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Month: March 2017

Trump Tax returns Reveal Trump paid $38 Million in Taxes on $150 million in Income in 2015

Rachel Maddow of MSNBC thought she had the scoop of a life time. She had scored a copy of Donald Trump’s 2005 Form 1040. Ms. Maddow took to twitter last night announcing that she would reveal Donald Trump Tax returns at 9pm that evening. Prior to her show airing the White House released Mr. Trump’s tax information showing that he paid $38 million in taxes in 2005 on income of $150 million, along with a statement:

“You know you are desperate for ratings when you are willing to violate the law to push a story about two pages of tax returns from over a decade ago. … Mr. Trump paid $38 million dollars even after taking into account large scale depreciation for construction, on an income of more than $150 million dollars, as well as paying tens of millions of dollars in other taxes such as sales and excise taxes and employment taxes and this illegally published return proves just that. Despite this substantial income figure and tax paid, it is totally illegal to steal and publish tax returns. The dishonest media can continue to make this part of their agenda, while the President will focus on his, which includes tax reform that will benefit all Americans.”

After babbling for about twenty minutes on the importance of releasing tax returns, Rachel Maddow finally revealed what she had been hyping and the White House already released, the President’s 2005 1040 and the details previously released by the White House.

The mainstream media is determined to take down Donald Trump with “the Russians did it” charges.

The mainstream media has also made incessant demands that Mr. Trump release his tax returns with the hopes that his tax information might reveal, as Hillary Clinton and others have speculated, that he has not been paying taxes or has financial ties to Russia.

In one fell scoop, Ms Maddow laid to rest those claims with a spectacular own goal disproving these suspicions. Not only has Donald Trump paid his taxes as the 2005 1040 shows, but that he paid them at a higher rate than MSNBC owner Comcast (24%), former President Obama (19%) and Bernie “Trump must pay his fair share” Sanders (13%).

The Democrats have tried the same tactics that were successful in removing General Flynn from Trump’s cabinet on Jeff Sessions. General Flynn was asked to resign when it surfaced that he had contacts with Russians in December that he did not disclose to Vice President Pence. President Trump made it clear General Flynn did nothing wrong in his actions, but that the failure to report them to Mr. Pence was worthy of asking for his resignation.

The Democrats are now pointing to a couple of meetings that Attorney General Jeff Sessions had with the Russian Ambassador that he did not disclose in his confirmation testimony to Congress. Democratic Senators, including Nancy Pelosi, immediately began calling for Mr. Sessions to resign for “lying to congress”.

A careful review of the exchange that Senator Sessions had with Senator Franklin during his confirmation hearings indicates that Sessions wasn’t asked if he, acting in his capacity as Senator, had meet with Russians, but rather whether as a surrogate of the Trump campaign had communications with the Russians in connection with any exchange of information between Russia and the Trump campaign. To which Sessions responded.

“Senator Franken, I’m not aware of any of those activities. I have been called a surrogate at a time or two in that campaign and I didn’t have — did not have communications with the Russians, and I’m unable to comment on it.”

The labor force participation rate is down, not only because of retiring baby boomers, but also because an increasing percentage of people in their prime working ages (25-54) have left the labor force.